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A Truncated Regression Model Of Recreation Demand For California Wilderness Areas

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  • Wetzstein, Michael E.
  • Ziemer, Rod F.

Abstract

The problems associated with limited dependent variables in recreation demand models have been generally ignored in previous research efforts. A probable reason for not considering these problems is that practical procedures to test for truncated bias have only tecently become available. A method suggested by Olsen can serve as an indicator regarding the severity of possible sample truncation bias inherent in OLS estimates of recreation demand parameters. This paper illustrates Olsen's method for wilderness recreation demand models. The results illustrate that a simple transformation of parameter estimates associated with OLS can indicate a possible sample truncation problem.

Suggested Citation

  • Wetzstein, Michael E. & Ziemer, Rod F., 1982. "A Truncated Regression Model Of Recreation Demand For California Wilderness Areas," 1982 Annual Meeting, August 1-4, Logan, Utah 279126, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea82:279126
    DOI: 10.22004/ag.econ.279126
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    References listed on IDEAS

    as
    1. Burt, Oscar R & Brewer, Durward, 1971. "Estimation of Net Social Benefits from Outdoor Recreation," Econometrica, Econometric Society, vol. 39(5), pages 813-827, September.
    2. Amemiya, Takeshi, 1973. "Regression Analysis when the Dependent Variable is Truncated Normal," Econometrica, Econometric Society, vol. 41(6), pages 997-1016, November.
    3. Wetzstein, Michael E. & Green, Richard D., 1978. "Use Of Principal Component Attractiveness Indexes In Recreation Demand Functions," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(1), pages 1-12, July.
    4. J. A. Sinden, 1974. "A Utility Approach to the Valuation of Recreational and Aesthetic Experiences," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(1), pages 61-72.
    5. Greene, William H, 1981. "On the Asymptotic Bias of the Ordinary Least Squares Estimator of the Tobit Model," Econometrica, Econometric Society, vol. 49(2), pages 505-513, March.
    6. W. E. Johnston & V. S. Pankey, 1968. "Some Considerations Affecting Empirical Studies of Recreational Use," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 50(5), pages 1739-1744.
    7. Wayne E. Boyet & George S. Tolley, 1966. "Recreation Projection Based on Demand Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(4_Part_I), pages 984-1001.
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